Join Forces with Other Donors and Receive Income for Life

This very special fund was created by the Philharmonic to pool cash gifts from many donors into a single fund to benefit the Orchestra – and each contributing donor – over a period of years. The steady stream of taxable income generated by your gift to the Philharmonic Pooled Income Fund (PIF) can be paid directly to you or to another beneficiary named by you. It is always wise to consult your attorney and financial advisors before making a gift of any type. However, we are glad to answer any initial questions you have about how a gift to the PIF may fit into your estate plans.

How the Philharmonic Pooled Income Fund Works

Participation in the PIF requires a minimum gift of $10,000 in cash or appreciated securities. That gift is then combined with the assets of other donors. You are assigned a proportional share based on the total number of donors at any given time. As the pool of assets grows, variable payments based on the value of the principal are paid to each donor on a quarterly basis. You can make additional contributions of $5,000 or more to the PIF at any time. PIF assets remaining after the lifetime of all income beneficiaries are passed along to the Philharmonic.

How the Philharmonic Pooled Income Fund is Invested

The PIF is designed as a balanced fund, with assets invested in stocks and bonds to produce reasonable asset growth and income yield. The fund is managed by Bank of New York Mellon.